CSCDA provides its local agency participants low-cost, innovative pooled finance programs designed to address short-term borrowing needs, budget shortfalls, and provide access to capital for critical infrastructure improvements.
Local Government Public Benefit Financings
Since inception, CSCDA has funded more than $15 billion for 1,481 local agency participants including:
- Tax Revenue Anticipation Notes $9 billion to finance short-term cash flow deficits for 948 local agency participants
- Water/Wastewater $526 million for treatment facility upgrades for 103 local water and sanitation districts
- CaLease $126 million to facilitate 143 lease obligations for local governments to acquire equipment, vehicles, computer technology, administration facilities, etc.
- Pension Obligation Bonds $414 million to provide an alternative finance mechanism for unfunded liabilities of 23 local agency participants
- Statewide Community Infrastructure Program $186 million of community infrastructure bonds to plan for the future growth in 72 local agencies
- Vehicle License Fee Securitization $455 million for 146 local agencies to manage cash flow deficits during the State’s budget crisis in 2005
- Tobacco revenue securitization $258 million for 20 local agencies to capture tobacco settlements and address healthcare needs in their community
- Other Programs $2 billion of other bond programs for 26 local agencies in their community
Private Activity Community Based Public Benefit Projects
Moreover, CSCDA has built a successful track record of financing high quality public benefit projects. We have issued more than $38 billion for the construction, equipping, rehabilitation, or modernization of 1,949 local, community approved projects since 1988 providing project financing for:
- Affordable Housing 67,548 very-low and low-income affordable housing units for 564 multifamily and 158 senior housing projects
- Hospitals/Medical Facilities 317 nonprofit hospital and medical facilities
- Continuing Care Facilities 109 skilled nursing, assisted living, and continuing care facilities
- Education 192 independent K-12 and higher education facilities
- Solid Waste 19 solid waste disposal and alternative energy facilities
- Manufacturing 126 manufacturing facilities creating an estimated 10,000 new jobs in California
- Other Programs 177 various public benefit facilities, including research institutes, care centers for developmentally disabled and terminally ill persons, drug and alcohol rehabilitation clinics, student housing projects, job training / placement facilities, and community and youth centers.